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Gold Takes a Breather; Watch for 1247 Support

Gold Takes a Breather; Watch for 1247 Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Takes a Breather; Watch for 1247 Support

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Bigger picture, gold completed a diagonal pattern (wedge) the week of February 12th. The objective from the pattern is the origin of the diagonal, which is 1392. 1307 is a good candidate for failure however.” Gold broke out a few days ago. I wouldn’t want to see price much below 1247 if the move is still higher.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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